CIMB Bank Berhad (“CIMB” or “the Bank”) in collaboration with Berjaya Sompo Insurance Berhad (“Berjaya Sompo”) have introduced Secure Home, a first online all risks protection insurance plan that covers both household goods and personal belongings in your home against loss and damage, on a first loss basis. Secure Home, along with selected SOMPO Motor and other general insurance products distributed by CIMB, can now be purchased seamlessly via CIMB’s website, URL link shared by staff or QR code scanning at CIMB branches nationwide. Customers will be led to a dedicated application portal, providing those who are on-the-go with a fast, secure, and seamless call to action.
Types of risk covered under Secure Home include fire or lightning, floods, thefts and accidents, with an insured sum of up to RM60,000 depending on the selected plan. Secure Home is a simple and hassle-free all risks home content insurance offering that even covers theft by visitors to your home. Furthermore, no upfront declaration of full value is required, and therefore it pays up to sum insured with no penalty for underinsurance.
Apart from Secure Home, the latest addition to CIMB’s suite of insurance products, customers can also now purchase or renew selected SOMPO motor insurance, travel insurance, personal accident insurance and home content insurance offered by Berjaya Sompo digitally end-to-end.
Samir Gupta, CEO, Group Consumer Banking, CIMB Group said, “We are delighted to offer this first-of-its-kind all risks home insurance protection that will provide homeowners with peace of mind and convenience.”
“Its easy accessibility for online purchase is timely, given customers’ increasing reliance on secure and seamless processes that are integrated into today’s digital lifestyles. The launch of Secure Home and introduction of an end-to-end digital process to purchase or renew insurance represent two main pivots of CIMB’s Forward23 strategy, namely Customer Centricity and Technology and Data. Besides offering the right financial products and services for our customers, we are also committed to continuously enhancing customer experience.”
Tan Sek Kee, CEO, Berjaya Sompo Insurance said, “At Berjaya Sompo, we place great emphasis on customer centricity through digitalisation initiatives. With the launch of Secure Home, we aim to provide our customers a hassle-free way to purchase or renew their insurance digitally. Recognising the current economic condition, we will continue to look for avenues to offer our customers greater protection at an affordable rate.”
The all risks home content protection provided by Secure Home is timely in providing peace of mind to customers and their families, as 2018 statistics from the Fire and Rescue Department show that Malaysians lost an estimated RM3.31 billion in property value due to fire1. Additionally, the Institute of Power Engineering at Universiti Tenaga Nasional, Malaysia said in 2018 that Malaysia had among the highest incidence of lightning activity in the world2, and lightning can cause severe damage to electrical appliances.
Distributed by CIMB and underwritten by Berjaya Sompo, Secure Home is available exclusively through all CIMB Bank branches and digital channels from 3 August 2020.
